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9 Earnings to Watch Friday

9. QR Energy (QRE), owns and acquires properties which produce oil and natural gas in North America. Its properties which are spread across four regions are mature, legacy onshore oil and natural gas reservoirs with long-lived, predictable production profiles. The company will announce its first quarter results on April 29.

For the first quarter of 2011, the company estimates capital expenditure to be around $3.1 million. Meanwhile, average net daily production is seen ranging between $5,200 to $5,400 barrels of oil equivalent (boe) per day, being negatively affected by 100 boe per day. For full year 2011, production levels are likely to range between $5,100 and $5,400 boe per day.

Of the 7 analysts covering the stock, 71% recommend a buy, while remaining suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to gain an average 4% to $23.5 in value from current levels.

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